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Australia's inflation staying below central bank target

Xinhua, August 31, 2015 Adjust font size:

Australia's inflation rate is staying below the central bank's 2 percent to 3 percent target, TD Securities said on Monday.

Australian consumer prices were up 0.1 percent in August, following a 0.2-percent rise in July, showing the annual rate of inflation was 1.7 percent in August.

TD Securities head of Asia Pacific research Annette Beacher however expects the Reserve Bank of Australia (RBA) to keep its cash rate unchanged despite inflation staying below the central bank's target band.

The RBA will hold its monthly board meeting on Tuesday and it is widely expected to keep the cash rate at a record low of 2 percent, where it has stood since May, despite weak domestic investment figures and global market volatility. Endi